Aegon Rising Star Insurance Plan

life insurance

Aegon Life Rising Star Insurance Plan is a child plan which helps you systematically create an investment corpus for supporting your child’s dreams and aspirations. The plan provides you with a triple life cover benefit against your life till your child attains the age of 25 years. Moreover, the plan offers 4 different fund options along with an auto-rebalancing option to provide you substantial flexibility to invest your hard-earned money as per your risk profile and investment style. The plan takes care of your liquidity requirements by way of partial withdrawals and systematic partial withdrawals options. 

Best Features of Aegon Life Rising Star Insurance Plan

The best features of the Aegon Life Rising Star Insurance Plan are as follows - 

  • Fund Options-  The plan provides 4 fund options namely Accelerator Fund, Stable Fund, Secure Fund, and Debt Fund to meet your varying investment portfolio preferences.
  • Investment Strategies- The plan provides an optional investment strategy named auto rebalancing strategy which automatically rebalances your investment as per the allocation proportions chosen by you.
  • Invest Protect option- This option helps in minimising the risks  by systematically transferring your investment units from Accelerator Fund to Secure Fund during the last 3 years of your policy.
  • Fund Switches- You can switch your investments from one fund to another up to 4 times in a policy year, without any extra cost. 
  • Partial Withdrawals-  You can make partial withdrawals after the completion of the lock-in period of the first 5 years to meet urgent financial requirements, subject to a maximum of 20% of your fund value in a policy year.
  • Systematic Partial Withdrawals- You can also choose to periodically redeem your fund units and get their proceeds credited to your bank account. The systematic partial withdrawals can be made on a monthly, quarterly, or annual basis for the duration of your choice.
  • Top-up Premium- You can invest additional premium via top-up option with a minimum amount of INR 5,000 anytime during the policy tenure except the last 5 policy years.
  • Increase in Sum Assured- The plan provides the flexibility to increase your basic sum assured anytime during the policy term, subject to underwriting.

Benefits of Aegon Life Rising Star Insurance Plan

Aegon Life Rising Star Insurance Plan offers the following benefits to its investors - 

  1. Death Benefit

In case of an unfortunate death of the life assured during the policy term of the policy, an aggregate of the following is payable to the nominee as the death benefit - 

  1. An amount equivalent to the higher of death sum assured or 105% of the total premiums paid till the date of death.
  2. An amount equivalent to the annualised premium is paid at the beginning of every policy year from the date of death of the life assured till the end of the policy term as an income benefit.
  3. The base fund value is paid at the end of the policy term. 

In addition to the above, all the future premium payments will be waived off by Aegon Life Insurance as the Premium Waiver Benefit.

  1. Maturity Benefit

In case of the survival of the life assured till the end of the policy term, a maturity benefit equivalent to the fund value, including the top-up fund value, as on the maturity date is payable.

The life assured has the option to remain invested in the funds beyond the policy maturity date under the settlement option of the plan. By exercising this option, you can choose to receive the maturity benefit in instalments for the time period of your choice.

Aegon Life Rising Star Insurance Plan Eligibility

Aegon Life Rising Star Insurance Plan comes with the following eligibility conditions -

Eligibility Criteria For Aegon Life Rising Star Insurance Plan

Minimum Age at Entry

For parent (life assured)- 18 years

For child (nominee )-  


 

Age of Life Assured

Minimum Age of Child

Age <= 40years

1 day

40 < Age <= 45

5 years

45 < Age <= 48

10 years


 

Maximum Age at Entry

For parent (life assured)- 48 years

For child (nominee)- 15 years

Age at Maturity

Up to 65 years

Policy Term 

25 years less age at entry of the child in completed years

Premium Payment Term (PPT)

Same as policy term

Premium Payment Frequency

Yearly, Half-yearly, Monthly

Minimum Annual Premium Amount 

Annual mode- INR 20,000 

Other modes- INR 30,000 

Minimum Basic Sum Assured

Age less than 45 years- Higher of 10 times of regular annualised premium or (0.5 x policy term x annualised premium) 

 Age greater than or equal to 45 years-  Higher of 7 times of regular  annualised premium or (0.25 x policy term x annualised premium)

Maximum Basic Sum Assured


 

Age less than 45 years - 18 times of annualised premium 

 Age greater than or equal to 45 years - 10 times of annualised premium 


 

Aegon Life Rising Star Insurance Plan Fund Options

Aegon Life Rising Star Insurance Plan provides the following fund options to invest your hard-earned money -  

Fund Name

Asset Class


 

Risk Profile

Equity and Equity Market

Money Market Instruments 

Fund Composition

 

Accelerator Fund

80%-100%

0%-20%

High

Stable Fund

20%-80%

0%-20%

Moderate

Secure Fund

60%-100%

0%-40%

Low

Debt Fund

60%-100%

0%-40%

Moderate

Aegon Life Rising Star Insurance Plan Review

Aegon Life Rising Star Insurance Plan is a child protection oriented unit-linked insurance plan which helps you ensure a financially stable future for your child. The plan provides 4 fund options and 1 option investment strategy to help you customise the plan as per your investment preferences. One of the significant features of this plan which makes it a reliable investment solution is its income benefit which ensures that your family faces no financial trouble when you are not around them.

Moreover, the plan provides an ‘invest protect’ option which helps you keep your investment safe even during market volatilities. Another notable feature of the plan is its settlement option which allows you to remain invested in it even after the policy maturity. Aegon Life Rising Star Insurance Plan is a suitable investment plan for individuals looking for a customisable child plan which comes with a host of benefits including systematic partial withdrawals.

Aegon Life Rising Star Insurance Plan FAQs
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